$OLED
UNIVERSAL DISPLAY CORP \PA\

2020 Q3 Form 10-Q Financial Statement

#000156459020048839 Filed on October 29, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3 2019 Q2
Revenue $117.1M $97.52M $118.2M
YoY Change 20.06% 25.74% 110.45%
Cost Of Revenue $23.38M $17.29M $24.07M
YoY Change 35.24% 7.21% 82.36%
Gross Profit $93.70M $80.23M $94.10M
YoY Change 16.79% 30.61% 111.39%
Gross Profit Margin 80.03% 82.27% 79.63%
Selling, General & Admin $13.58M $14.30M $17.70M
YoY Change -5.04% 17.99% 53.09%
% of Gross Profit 14.49% 17.82% 18.81%
Research & Development $20.81M $16.80M $18.83M
YoY Change 23.89% 23.38% 45.99%
% of Gross Profit 22.21% 20.94% 20.01%
Depreciation & Amortization $3.900M $3.200M $3.000M
YoY Change 21.88% 88.24% 36.36%
% of Gross Profit 4.16% 3.99% 3.19%
Operating Expenses $45.28M $39.40M $45.43M
YoY Change 14.91% 11.31% 292.94%
Operating Profit $48.43M $40.83M $48.66M
YoY Change 18.6% 56.85% 47.68%
Interest Expense $1.000M $2.700M $2.800M
YoY Change -62.96% 28.57% 55.56%
% of Operating Profit 2.07% 6.61% 5.75%
Other Income/Expense, Net $1.291M $2.801M $3.162M
YoY Change -53.91% -26450.0%
Pretax Income $49.72M $43.60M $51.83M
YoY Change 14.03% 55.16% 308.08%
Income Tax $9.200M $6.700M $8.400M
% Of Pretax Income 18.5% 15.37% 16.21%
Net Earnings $40.50M $36.96M $43.44M
YoY Change 9.57% 61.99% 301.7%
Net Earnings / Revenue 34.59% 37.9% 36.76%
Basic Earnings Per Share $0.85 $0.78 $0.92
Diluted Earnings Per Share $0.85 $0.78 $0.92
COMMON SHARES
Basic Shares Outstanding 47.23M 46.98M 46.97M
Diluted Shares Outstanding 47.26M 47.01M 47.00M

Balance Sheet

Concept 2020 Q3 2019 Q3 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $672.7M $597.1M $552.7M
YoY Change 12.66% 20.97% 20.84%
Cash & Equivalents $162.6M $235.5M $324.3M
Short-Term Investments $510.0M $513.3M $458.0M
Other Short-Term Assets $30.04M $10.40M $8.900M
YoY Change 188.83% -12.92% -56.16%
Inventory $84.10M $57.77M $60.14M
Prepaid Expenses
Receivables $99.35M $65.77M $66.95M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $886.2M $731.0M $688.7M
YoY Change 21.22% 18.32% 20.95%
LONG-TERM ASSETS
Property, Plant & Equipment $96.83M $86.27M $83.60M
YoY Change 12.25% 27.86% 34.18%
Goodwill $15.54M
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.000M $5.000M $5.000M
YoY Change 0.0%
Other Assets $103.1M $107.6M $79.22M
YoY Change -4.21% 174.83% 56.56%
Total Long-Term Assets $338.8M $331.6M $322.4M
YoY Change 2.17% 24.68% 22.21%
TOTAL ASSETS
Total Short-Term Assets $886.2M $731.0M $688.7M
Total Long-Term Assets $338.8M $331.6M $322.4M
Total Assets $1.225B $1.063B $1.011B
YoY Change 15.28% 20.24% 21.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.626M $9.200M $7.744M
YoY Change 4.63% -30.98% -1.97%
Accrued Expenses $33.69M $37.10M $35.74M
YoY Change -9.19% 16.7% 46.49%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $182.8M $148.4M $139.7M
YoY Change 23.15% 29.86% 37.67%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $58.01M $127.6M $30.28M
YoY Change -54.54% 595.86% 65.17%
Total Long-Term Liabilities $58.01M $127.6M $30.28M
YoY Change -54.54% 595.86% 65.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $182.8M $148.4M $139.7M
Total Long-Term Liabilities $58.01M $127.6M $30.28M
Total Liabilities $345.3M $276.0M $260.0M
YoY Change 25.12% 32.54% 42.41%
SHAREHOLDERS EQUITY
Retained Earnings $307.1M $195.0M
YoY Change
Common Stock $490.0K $488.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $41.28M $41.28M
YoY Change
Treasury Stock Shares $1.366M $1.366M
Shareholders Equity $879.6M $786.6M $751.0M
YoY Change
Total Liabilities & Shareholders Equity $1.225B $1.063B $1.011B
YoY Change 15.28% 20.24% 21.35%

Cashflow Statement

Concept 2020 Q3 2019 Q3 2019 Q2
OPERATING ACTIVITIES
Net Income $40.50M $36.96M $43.44M
YoY Change 9.57% 61.99% 301.7%
Depreciation, Depletion And Amortization $3.900M $3.200M $3.000M
YoY Change 21.88% 88.24% 36.36%
Cash From Operating Activities $43.80M $53.80M $49.80M
YoY Change -18.59% 19.56% 344.64%
INVESTING ACTIVITIES
Capital Expenditures -$7.400M -$5.000M -$7.000M
YoY Change 48.0% -33.33% 48.94%
Acquisitions
YoY Change
Other Investing Activities $700.0K -$131.7M $69.60M
YoY Change -100.53% 261.81% -196.53%
Cash From Investing Activities -$6.800M -$136.7M $62.60M
YoY Change -95.03% 211.39% -181.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.000M -6.000M -13.20M
YoY Change 33.33% 87.5% 69.23%
NET CHANGE
Cash From Operating Activities 43.80M 53.80M 49.80M
Cash From Investing Activities -6.800M -136.7M 62.60M
Cash From Financing Activities -8.000M -6.000M -13.20M
Net Change In Cash 29.00M -88.90M 99.20M
YoY Change -132.62% 4133.33% -235.33%
FREE CASH FLOW
Cash From Operating Activities $43.80M $53.80M $49.80M
Capital Expenditures -$7.400M -$5.000M -$7.000M
Free Cash Flow $51.20M $58.80M $56.80M
YoY Change -12.93% 12.0% 257.23%

Facts In Submission

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46980439
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47013919
CY2019Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.10
CY2019Q3 us-gaap Investment Income Net
InvestmentIncomeNet
2748000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.45
CY2020Q3 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
639000
CY2020Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1000
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
14000
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
686000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2230000
CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
40514000
CY2019Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
37648000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
81700000
CY2019Q3 oled Issuance Of Common Stock To Board Of Directors And Scientific Advisory Board Value
IssuanceOfCommonStockToBoardOfDirectorsAndScientificAdvisoryBoardValue
242000
CY2019Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
271000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
786567000
CY2019Q3 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
634000
CY2019Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
25000
oled Issuance Of Common Stock To Board Of Directors And Scientific Advisory Board Value
IssuanceOfCommonStockToBoardOfDirectorsAndScientificAdvisoryBoardValue
1433000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1142000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
879636000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
751033000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
36962000
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
686000
CY2019Q3 us-gaap Dividends Cash
DividendsCash
4712000
CY2019Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3533000
CY2019Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1448000
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
212000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-1903000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2115000
oled Contract With Customer Liability Amortization Of Deferred Revenue And Recognition Of Unbilled Receivables
ContractWithCustomerLiabilityAmortizationOfDeferredRevenueAndRecognitionOfUnbilledReceivables
112508000
oled Contract With Customer Liability Amortization Of Deferred Revenue And Recognition Of Unbilled Receivables
ContractWithCustomerLiabilityAmortizationOfDeferredRevenueAndRecognitionOfUnbilledReceivables
101079000
us-gaap Depreciation
Depreciation
11147000
us-gaap Net Income Loss
NetIncomeLoss
111876000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
690506000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2115000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2115000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
113991000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
40500000
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
14000
CY2020Q3 us-gaap Dividends Cash
DividendsCash
7114000
us-gaap Dividends Cash
DividendsCash
14142000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
10490000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
15920000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
649000
oled Issuance Of Common Stock To Board Of Directors And Scientific Advisory Board Value
IssuanceOfCommonStockToBoardOfDirectorsAndScientificAdvisoryBoardValue
1426000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
865000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
786567000
us-gaap Net Income Loss
NetIncomeLoss
79470000
us-gaap Depreciation
Depreciation
8958000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
16474000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
16469000
us-gaap Inventory Write Down
InventoryWriteDown
808000
us-gaap Inventory Write Down
InventoryWriteDown
4155000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-4293000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-4528000
us-gaap Share Based Compensation
ShareBasedCompensation
19807000
us-gaap Share Based Compensation
ShareBasedCompensation
10697000
oled Stock Based Compensation To Board Of Directors And Scientific Advisory Board
StockBasedCompensationToBoardOfDirectorsAndScientificAdvisoryBoard
1133000
oled Stock Based Compensation To Board Of Directors And Scientific Advisory Board
StockBasedCompensationToBoardOfDirectorsAndScientificAdvisoryBoard
1126000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-2242000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-2633000
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
4242000
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
4379000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
162620000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
113849000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
144200000
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
235541000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
211022000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
2854000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
4602000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
8721000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
10259000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-19633000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1827000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-806000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
5587000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
9454000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
149000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
75827000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
137746000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19213000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
25317000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
25000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
401000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
604153000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
648006000
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
613310000
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
590550000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10081000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-83174000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
869000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
658000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
649000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
14293000
us-gaap Payments Of Dividends
PaymentsOfDividends
21329000
us-gaap Payments Of Dividends
PaymentsOfDividends
14142000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-34753000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-30053000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
30993000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
24519000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
131627000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
451000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
227000
oled Other Significant Non Cash Transaction Increase Decrease In Accounts Payable And Accrued Expenses Related To Purchases Of Property And Equipment
OtherSignificantNonCashTransactionIncreaseDecreaseInAccountsPayableAndAccruedExpensesRelatedToPurchasesOfPropertyAndEquipment
-892000
oled Other Significant Non Cash Transaction Increase Decrease In Accounts Payable And Accrued Expenses Related To Purchases Of Property And Equipment
OtherSignificantNonCashTransactionIncreaseDecreaseInAccountsPayableAndAccruedExpensesRelatedToPurchasesOfPropertyAndEquipment
-168000
us-gaap Nature Of Operations
NatureOfOperations
<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1.</span></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><span style="font-weight:normal;"/><span style="font-size:10pt;">BUSINESS:</span></p></td></tr></table></div> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Universal Display Corporation and its subsidiaries (the Company) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. OLEDs are thin, lightweight and power-efficient solid-state devices that emit light that can be manufactured on both flexible and rigid substrates, making them highly suitable for use in full-color displays and as lighting products. OLED displays are capturing a growing share of the display market, especially in the mobile phone, television, wearable, tablet, notebook and personal computer, augmented reality (AR), virtual reality (VR) and automotive markets. The Company believes this is because OLEDs offer potential advantages over competing display technologies with respect to power efficiency, contrast ratio, viewing angle, video response time, form factor and manufacturing cost. The Company also believes that OLED lighting products have the potential to replace many existing light sources in the future because of their high-power efficiency, excellent color rendering index, low operating temperature and novel form factor. The Company's technology leadership, intellectual property position, and the Company’s more than 20 years of experience working closely with leading OLED display manufacturers are some of the competitive advantages that should enable the Company to continue to share in the revenues from OLED displays and lighting products as they gain wider acceptance.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s primary business strategy is to (1) develop new OLED materials and sell existing and any new materials to product manufacturers of products for display applications, such as mobile phones, televisions, wearables, tablets, portable media devices, notebook computers, personal computers, and automotive applications, and specialty and general lighting products; and (2) further develop and license the Company’s proprietary OLED technologies to those manufacturers. The Company has established a significant portfolio of proprietary OLED technologies and materials, primarily through internal research and development efforts and acquisitions of patents and patent applications, as well as maintaining long-standing, and establishing new relationships with world-class universities, research institutions and strategic manufacturing partnerships. The Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,000 patents issued and pending worldwide.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company manufactures and sells its proprietary OLED materials to customers for evaluation and use in commercial OLED products. The Company also enters into agreements with manufacturers of OLED display and lighting products under which it grants them licenses to practice under the Company’s patents and to use the Company's proprietary know-how. At the same time, the Company works with these and other companies that are evaluating the Company's OLED technologies and materials for possible use in commercial OLED display and lighting products.</p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Management’s Use of Estimates</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The estimates made are principally in the areas of revenue recognition including estimates of material unit sales and royalties, the useful life of acquired intangibles, lease liabilities, right-of-use assets, the use and recoverability of inventories, intangibles, investments and income taxes including realization of deferred tax assets, stock-based compensation and retirement benefit plan liabilities. Actual results could differ from those estimates.</p>
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
190000
us-gaap Operating Lease Cost
OperatingLeaseCost
1609000
us-gaap Operating Lease Cost
OperatingLeaseCost
1316000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1070000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1007000
us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
0
us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
0
CY2019Q3 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
0
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
4011
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.45
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.45
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
21300000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-1900000
CY2019Q4 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
22000000.0
us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
Recognized income tax positions are measured at the largest amount of which the likelihood of realization is greater than 50%.
CY2020Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
510048000
CY2020Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
162620000
CY2020Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
162620000
CY2019Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
131627000
CY2019Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
131627000
CY2020Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
509412000
CY2020Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
636000
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
514277000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
6000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
514461000
CY2020Q3 oled Number Of Minority Investments
NumberOfMinorityInvestments
1
CY2020Q3 oled Minority Investment Carrying Value
MinorityInvestmentCarryingValue
5000000.0
CY2020Q3 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
0
CY2019Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
0
CY2020Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
42031000
CY2019Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
25920000
CY2020Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
2079000
CY2019Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
7987000
CY2020Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
39988000
CY2019Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
30046000
CY2020Q3 us-gaap Inventory Net
InventoryNet
84098000
CY2019Q4 us-gaap Inventory Net
InventoryNet
63953000
CY2020Q3 us-gaap Inventory Write Down
InventoryWriteDown
198000
CY2019Q3 us-gaap Inventory Write Down
InventoryWriteDown
0
us-gaap Inventory Write Down
InventoryWriteDown
808000
us-gaap Inventory Write Down
InventoryWriteDown
4200000
us-gaap Depreciation
Depreciation
9000000.0
us-gaap Depreciation
Depreciation
11100000
CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
165253000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
145148000
CY2020Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
68423000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
57276000
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
96830000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
87872000
CY2020Q3 us-gaap Depreciation
Depreciation
3900000
CY2019Q3 us-gaap Depreciation
Depreciation
3200000
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
223242000
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
147903000
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
132468000
CY2020Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
75364000
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
90774000
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
5200000
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
20600000
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
15800000
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
9700000
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
9600000
CY2020Q3 oled Finite Lived Intangible Asset Amortization Expense After Year Four
FiniteLivedIntangibleAssetAmortizationExpenseAfterYearFour
14500000
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
Current lease agreements do not contain any residual value guarantees or material restrictive covenants. As of September 30, 2020, the Company did not have any finance leases and no additional operating leases that have not yet commenced.
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
537000
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
456000
CY2019Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1503000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
9776000
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
7200000
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1100000
CY2020Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
6100000
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.055
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
388000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1278000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1209000
CY2020Q3 oled Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
3771000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
8723000
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1539000
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
7184000
CY2020Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
CY2020Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
47643267
CY2020Q3 oled Long Term Purchase Commitment Percent Of Services Payable In Cash Or Shares
LongTermPurchaseCommitmentPercentOfServicesPayableInCashOrShares
0.50
CY2020Q3 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
0
CY2020Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2020Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2020Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2020Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2020Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
49008915
CY2019Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
649000
CY2020Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.15
CY2020Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.15
CY2020Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
7100000
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
313000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-1917000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2230000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-1900000
CY2020Q3 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
17900000
us-gaap Revenues
Revenues
287324000
us-gaap Revenues
Revenues
303448000
CY2020Q3 us-gaap Revenues
Revenues
117079000
CY2019Q3 us-gaap Revenues
Revenues
97515000
CY2020Q3 us-gaap Noncurrent Assets
NoncurrentAssets
96830000
CY2019Q4 us-gaap Noncurrent Assets
NoncurrentAssets
87872000
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.185
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.153
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.179
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.158
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9200000
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6700000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
17400000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
21100000
CY2018Q4 oled Withholding And Interest For Licensing And Royalty Payments
WithholdingAndInterestForLicensingAndRoyaltyPayments
13200000
oled State And Foreign Income Tax Returns Subject To Examination Period Maximum
StateAndForeignIncomeTaxReturnsSubjectToExaminationPeriodMaximum
P4Y
CY2020Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
99350000
CY2020Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
138391000
CY2020Q3 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
51657000
oled Contract Expiration Year
ContractExpirationYear
2022
CY2020Q3 oled Backlog Associated With Committed Purchase Orders From Customers
BacklogAssociatedWithCommittedPurchaseOrdersFromCustomers
13800000
CY2019Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
1362000
CY2019Q4 us-gaap Deferred Revenue
DeferredRevenue
144862000
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46980439
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
97556000
oled Increases Due To Cash Received
IncreasesDueToCashReceived
144200000
oled Increases Due To Cash Received
IncreasesDueToCashReceived
113849000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47182625
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46947109
us-gaap Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Estimate Of Transaction Price
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInEstimateOfTransactionPrice
689000
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
7571000
oled Transferred To Receivables From Unbilled Receivables
TransferredToReceivablesFromUnbilledReceivables
1225000
oled Unbilled Receivables Increase Decrease Net
UnbilledReceivablesIncreaseDecreaseNet
6346000
oled Net Increase Decrease In Deferred Revenue
NetIncreaseDecreaseInDeferredRevenue
-19116000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
94044000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47227061
us-gaap Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Estimate Of Transaction Price
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInEstimateOfTransactionPrice
1458000
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-13494000
oled Unbilled Receivables Increase Decrease Net
UnbilledReceivablesIncreaseDecreaseNet
-13494000
oled Net Increase Decrease In Deferred Revenue
NetIncreaseDecreaseInDeferredRevenue
-45186000
CY2020Q3 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
14856000
CY2020Q3 us-gaap Deferred Revenue
DeferredRevenue
190048000
CY2018Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
1020000
CY2018Q4 us-gaap Deferred Revenue
DeferredRevenue
122567000
CY2019Q3 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
7366000
CY2019Q3 us-gaap Deferred Revenue
DeferredRevenue
141683000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
40500000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
36962000
us-gaap Net Income Loss
NetIncomeLoss
79470000
us-gaap Net Income Loss
NetIncomeLoss
111876000
CY2020Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
277000
CY2019Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
260000
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
613000
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
922000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
40223000
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
36702000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
78857000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
110954000
CY2020Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
339
CY2019Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
249
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
1263
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
1142
CY2020Q3 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
32931
CY2019Q3 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
33231
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
28772
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
35650
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47260331
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47013919
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47212660
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46983901
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.85
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.78
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.67
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.36
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.85
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.78
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.67
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.36
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0

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